Economy of the European Union

Eurozone jobless rates fall to 12-year lows

Unemployment in the eurozone fell to a 12-year low in February, the month before coronavirus containment measures began to be introduced widely across Europe.
The jobless rate was 7.3 percent in the 19 countries sharing the euro currency, the lowest level since March 2008, European Union statistics office Eurostat said on Wednesday.

New eurozone ‘coronabonds’ body might take three years to set up, says Regling

A new mechanism to enable the issuance of joint eurozone debt to counter economic fallout from the coronavirus epidemic - as recommended by nine European leaders - could take up to three years to set up, the head of the bloc's bailout fund said.

Greece hopes for 'corona bond' to assist virus-hit countries, says spokesman

Greece hopes EU countries will agree on a common debt instrument to raise funds to support economies in combating the new coronavirus, government spokesman Stelios Petsas said in a press briefing Thursday.

"Obviously, the state of the real economy has deteriorated and continues to deteriorate. This is why we are reevaluating the situation on a daily basis," he said.

EBRD helps in tackling crisis

The Covid‐19 pandemic and its economic consequences present an unprecedented challenge to Greece and the world. The European Bank for Reconstruction and Development (EBRD) has established an emergency 1-billion-euro "Solidarity Package" of measures to support its economies.